RE:RE:RE:RE:Anyone been paid their dividend today. Not me !!!!Yeah I also tried to keep the div in US funds for a travel stash but like you my broker informed me I would have to hold the US stock. I have thought about holding the US version but I don't want the tax hassles right now, the cRA is a big enough pain in the butt and the conversion rate isn't horrible. Obviously there is a double loss as I will have to convert back to US funds eventually for that travel stash so I may take on the hassle of navigating the IRS too soon.
GLTY and all
JayBanks wrote:
Quintessential1 wrote: I am with CIBC and my dividends always show up a day later than they are suposed to (today) and my brother who is with TD always get his on the day they are suposed to arrive (yesteday). We also compare the exchange rate and CIBC seems to come out slightly ahead there with the dividend working out to $.5122 per share CAD so at least it is not a day late AND a dollar short.
Better late than never.
GLTA
Dividend recieved, Scotia exchange worked out to .5062 I know Scotia has a history of higher fees on stuff like that so I guess since it's bank specific exchange I'll take a hit.
When I originally did research on this type of dividend which I was not aware of until I was listening to the HOT.UN board and then found out that AQN who I'm also interested in does this also. I found on an online website you can ask your broker to keep the dividend payout USD, hours after I bought AEM I called Scotia to get that set up on my account and after running around the phones an in house broker told me that can not be done unless you journal your shares across to the US listing, and that the conversion is done automatically when the dividend is recieved to the account.
on my 180 share count I receive $1.08 payout less than you would at your exchange rate and altho it's small, that is 1.2% of the payout less I receive, and I believe this will compound larger as the dividends grow and If I acquire more shares... I'm gonna think this one over to myself because it might be worth journaling the shares over because I do have a US portion to the account I use.
Also using this exchange number I'm only getting a 3.29% yeild on cost, when the expectation is 3.33%, I believe that gap will widen also as time passes.
Very good learning moment we have here.